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East Central Reporter

Saturday, November 23, 2024

Former state university employee Diehl paid in $51K to pension fund, could collect $752K in retirement

Money 08

Former state university employee Cindy Diehl, who retired in April 2016, saved $51,318 toward a pension over 18 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Diehl would collect as much as $751,756, according to a projection by Local Government Information Services (LGIS), which publishes East Central Reporter.

The projection assumes Diehl received $15,801 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Diehl will have already received $66,105 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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